April 17, 2009 / 6:38 PM / 10 years ago

Iceland PM-Kaupthing assets cover German deposits

REYKJAVIK, April 17 (Reuters) - Icelandic Prime Minister Johanna Sigurdardottir said on Friday the assets of Kaupthing would be enough to pay back all the German depositors who held EDGE accounts in the failed bank.

“It has now become clear ... the assets of Kaupthing are sufficient to settle accounts with German depositors,” she said in the text of a speech published on the government’s website.

“This is an important step in our efforts to settle our affairs amicably with the international community.”

The bank, which was taken over by the North Atlantic island nation’s government late last year after it succumbed to the global financial crisis, said in February it had secured sufficient funds to pay back a majority of its German deposits. (Reporting by Omar Valdimarsson, editing by Matthew Lewis)

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